tv Cashin In FOX News December 10, 2011 11:30am-12:00pm EST
sales are down. that's it for forbes on fox. continue with cashing in. minus 21 days and counting. the white house posting the countdown clock on the website showing exact time pay roll tax cuts go buy - bye bye. is this the clock they should be showing or mounting? our mounting tional debt. that is what dcc should deal with. welcome to cashin in. we have wayne, johnn thon and john and tracey. and joining us sally. welcome to all of you. tracey, what do you think will
hurt the middle class. debt or letting the pay roll tax cut. >> the debt. look at what is going on in europe. the pay roll tax is a joke. it hurts social security. it certainly doesn't create jobs and by god, it is not helping our deficit is atul move on from the short term fixes. you are just trying to garner votes. look long-term. debt is going to kill us. and the other thing to hear about. extension of the pay roll tax cuts and they are not extended. many coupems making $70,000, are going to lose $2000 out of their pockets. that is to hurt the economy. that is a negative. >> it is a negative. but the pay roll tax cut is a redistribution from the rich. it comes from the government's
responsibility to redistribute as they see fit. it is ineffective and short lifes. and destructive because these bankrupt entitlement like social security are lookking to cut them. >> and sally looking at debt issue that we are sitting on rightt now. that hurt europe and could hurt us. >> a lot of things that hurt. it was a struggling economy. w have to get our debt under control. and businesses know they need consumer demand and middle class people to have money in their pockets. why is it okay to raise the debt to give tax cut to millionaires and billionaires and can't justify to give tax breakk to working class people. >> there is two things that dc could focus on. pay roll tax cuts and extension of that or deal with
the debt. which is more different to the u.s. economy in >> i don't think you have to have either or. i don't get this fight about you have to have tax cuts. it is more congress has to ultimate cut. otherwise we'll end up like greece. we have to do that. significant thing you have to do here. while you are doing one. you debate the other. you can't take yourr eye off of it. sally has a point. if you do it now. that is an immediate. but in the long term. if you don't cut you are dead. >> john lay field . we haven't seen a true reaction to the pay roll tax extension by the markets. i think it could. there is no job creation event
on the horizon. because we have no long-term plans. deficit plan and commission didn't work. we have no longg-term energy plann and only countryy in the world without an energy plan. you have the debt that we started redistributing since the 1960s, taking social security and say we'll fund that later. ur unfunded liabilityies are greater than the 15 trillion that is our actual debt. this is going to kill us and we have to have a day of reckoning. >> god, stop the regulations and stop the uncertainty and political bs. everyone is sick of this nonsense. it is created inertia in this economy. that's the problem. not a pay roll tax cut. i don't wantt anybody to be without money. it affects me, too. all it is doing is hurting the seniors. social security is broke, too.
and not creating jobs and not getting out there to shop. >> sally is making a point about the consumer and negative affect on the consumer with the reards. and small owners are clear. they said that regulations is not hurting their business. what is hurting is the lackk of consumer demand. we know they are sitting on two trillion in unspent capitol. they are not creating jobs. taking the money out of the hands. will hurt the economy. >> that is a regulatory debate. but take the same market question . we have not seen a true reaction to the fight in washington. that may change and that will hurt the economy. >> we haven't seen an erratic market. we have seen a market that looked like it governed by wall street and economic
decisions. but this question of a pay roll tax cut is just that. the economic philosophy has beenn proven wrong. and going back to the 30s . proven wrong in the last 3years it is a bank ruptt notion and putses governme in the heart of the economy. if your economic theory was correctt. then we would have jobbs in a working economy right now. >> we haven't had that. we want people who earn wealth to investt it. >> corporation and wealthy are paying historically loww percentages. american people are not stupid and time to try something new and put money in people's pockets. >> we need more hand outs? >> wayne, in the end . day, both of these. whether it is the pay roll tax
exstinction they are negatives. i don't know the economy is bad as everybody thinks it is. the market may not reflect that. i go to stores in new york. we are doing good as we have done and this yearr is better than lastt year. and i see consumer demand being there. you talk about corporations sitting on cash. yes, not because consumers are not there. but they are sitting on cash because the environment is such that you don't want to investt the money. you tonight have a clear idea, you will not spend money. >> wayne, i learned that january and march is a bride christmas. i think you will have a good time . >> and by the way, we have had a terrific yearr and -yearr and year and last quarter.
i think you see that. last five mongs, you could buy stocks and do well and that's what happened. >> thanks to all of you on this one. what would the gop hopefuls do about the massive debt cuts. neal cavuto will demand those answers in iowa . in the hawk eyeitate with ron paul, rickk perry and bob mcdonald who may be the running mate for the gop nominee and co-founder of home depo, bernie marcus. a few of neal's special guests. coming up on cashin in. chynna trying to take a bite out of the apple ipad. brace yourself. occupiers are coming to a home near you. why this could hammer home prices for good.
when we set you up with that little hardware store we didn't intend for your face to be everywhere. but fedex office makes it so easy. not only do they ship stuff, they print flyers, brochures -- everything i need to get my ne out there. that's the problem. now we need to give you a third identity. you're paul matheson. and you're gonna run your business into the ground. erik gustafson would never do that! there is no erik gustafson. hey that's erik gustafson!!! there is no erik gustafson!!!!! [ male announcer ] small business solutions. fedex. solutions that matter.
>> first apple stores in china. and they can't sell ipads. and john, you say that is more details . it is good for america's economy. >> how does that work. >> they don't want to invest in the chinese commempt lookk at that. losing so many billions. they simply lied about the balance sheet. that is no cause and affect. you don't know money is there or if they are flat telling something falsely. and no cause and affect. no one in chynna is going. people are looking at chin hua and there is no cause in affect and invest in places
like the u.s.. it is patent violations. and they don't seem to have a handle on. it is a trade dispute. they will go to the lowest possible place. let me finish, please. i will put up with the cost of doing business. i grant you what john said. you will accept that. trade off makes it better and cheaper. and there is no dispute.
communist. and a lot of companies. and microsoft. they have been successful. what is exciting about the conversation. it is an example of how to joinn them in the global race to the bottom. the united states needs to be competitive. it is leading the race to the top. i don't know. helps american families get back on their feet. it is an apple question. did i say that. it is where china.
it is lowering the minimum wage. in regards to apple. they are going to be sued. they are going to be sued by the chinese company that they are trying to deal with. and it does throw a warning shot that someone like apple could be vulnerable. >> on this program yearrs ago and recommended bmt . guess what. it got nationalized. it is a real risk that you run when trading with a communist counselry. china --- country. we are closing our economy and becoming more totalian and
china is going in different way. it is another story. guys thank you very much. it is an interesting debate. >> say hello to yourr new neighbors. saying goodbye to a housing rebound. so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years.
they are protesting allegations of fraud. some protestors are calling for prime minister vladimir putin to step down and hold another election. president obama and house speaker john boehner going head-to-head over the tax cut. mr. boehner promising an extension to include a provision on the key stone pipe line. the president promised to veto that. and presidential hopefuls gearing up for a debate. for the first timerisherishh is going in as front runner and said palestinians are inventive people. new reaction coming up in the top of the hour. join us. >> for city streetts and abandoned homings. just as we get new that is close - close foreclosers are
expected to drop. and johnathon you say it closes the door on any housing recovery, how. >> close the door and civility and just a peace. mike is not right. occupiers are literallial trespassers and gangs was thugs barging in banks or homes that they don't own. they have no right to be there. it paves the way as pointed out the daily sort of occupiations that we see. >> tracey would you want your occupy protestors to occupy home. >> go home already. look, if they are out of control. they want people back in homes and if i go to look at a home
and there is protestor in there i am not interested in buying the home. they are going to end up hurting that which they think they are helping. >> sally, you think that will hurt the housing recovery. >> no, they help it. east new york has the highest close - forecloser rate. homeowners are losing 78 billion in the value on their homes because of the bank owned foreclosed homes. we bailed out wall street and not helping them in their homes. >> wayne, what about the value of the property. they ended up on the bank's books because people lost their yobbs. ra. and an occupied dwelling
is better. whether it is occupied by machine legally or illegallyy. it is raising the economic question. and whether the home will decrease in value. it is in a lott of cases. people fix them up. economic result of this is just that they will be better. oops. >> just the fact that putting a squatter in the house. i disagree. this has nothing to do the ball out. this is not. this is basic economics. homeownership should be around. it is they find out and didn't
have the means. and we'll have the inventory out there. and so is construction jobs. >> it is predicted that it will drop by five percent. >> so do i. i am out there and looking for a new home. and bottom line. you don't know where they are. >> they are avoidding home forecloser. >> tracey, you are out looking at a new home. these are runn down homes and if you put them down to help fix it up. coming up everybody. it is shutting light. hat you need to know before
you click and buy. commission-free for 60 days. plus get up to $600 when you open an account. this was the gulf's best tourism season in years. all because so many people came to louisiana... they came to see us in florida... make that alabama... make that miissippi. the best part of the gulf is wherever you choose... and now is a great time to discover it. this year millions of people did. we set all kinds of records. next year we're out to do even better. so come on down to louisiana... florida... alabama... mississippi. we can't wait to see you. brought to you by bp and all of us who call the gulf home.
what do i need to know for next week? and getting in facebook founder page. watch yourr personal finances. nothing is reallyy safe. >> those scandalous photos of mark. not. and following twitter, you might want to check it out. and i don't like it because chelsea clintton chose the board. they have a host of companies. and and senior people and me.com. and strong stockings. >> yourr personal issues aside. wayne rogers. >> i like ford motor company. >> they did not take taxpayer money and gm and chrysler both went bankrupt and took it. fords i